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I know it's hard to get any info sometimes and you save the best details for subscribers, as you should and as I have said you should in the past, but it seems like your updates on the budget negotiations and the end of session issues are considerably less frequent than they were last year.
I keep checking the blog and there's nothing new on there. We know that something is happening, somewhere.
I'm not saying, I'm just saying.
Napoleon
If you hadn't left the building and stayed at the Capitol with the rest of us you would know what's going on. :)
If I know Miller he is running around with his head cut off trying to get the latest scoop. Either that or he's in Boone's drinking.
Actually, I've been working on three stories unrelated to the end of session. The real budget stuff all gets done at night.
Why is he so stressed out? Maybe he knows the house Rs are ready to play ball and get a compromise bill done, and he is scared.
Have you checked out Tom Roeser's column in today's Chicago Daily Observer ("The Agnew Solution to Rod Blagojevich")? It's posted under Icerocket. I know Roeser is an extremist, but wow!
In addition, it looks like MJM is feeling significant heat from currie's comments earlier in the week that the chances for capital are nil.
Go Cross Go!
Like the rest of the Governor's defenders here, jj, you either have no experience in Illinois politics or are too committed to parroting the Governor's official line to have any real sense of what is taking place.
If Madigan doesn't call the bill, he is the one to blame for killing it.
He doesn't want to be to blame, he wants to blame everyone else for his own stubborness - The Governor, House Republicans, etc. House Dems even.
Stop your spin that Madigan actually wants a capital bill.
You would have understood his games if you were a House R intern.
Why not give 600 million to the CCs and not a dime to private Universities.
As of August 31, 2006, Northwestern's endowment and other trust funds totaled approximately $5.9 billion.
Seems like they don't need any money from me.
If you look at my comments, I never suggested that MJM wanted a capital bill. I only said that 1) he has nothing to fear from Republicans "cutting a deal". If he doesn't want it, he wont call it. Or he'd amend it in such a way as to insure the Governor and Emil would never accept it. However, 2) clearly he is willing to let the House work his will because he allowed it to come out of committee.
I have constantly argued that the capital bill, in its current format, is bad public policy. It is Rod and Emil's Las Vegas "Pawn shopping" of Illinois. It relies on 1) a large expansion of gambling, the majority of the legislature not being a proponent of; and 2)the selling of a productive state asset, the lottery, where if passed only 20 cents of every future lottery dollar will be realized by the state and 80 cents will go to bondholders (with significant financial advisor fees going to friends of Rod).
That is bad government fiscal policy.
You are probably right but what do you think of the proposed bill? I am not too fond of gambling expansion and I think the revenue projections are probably inflated but remember the feds are picking up almost 1/3 of the frieght.
As for the lottery, I forecast declining revenue for the lottery if it continues as is. A private will probably increase profits by various ways. Leasing it might just be a good move, fiscally.
Steve, Why do you think so?
As a former Budget staffer, what is your opinion of the capital bill? Any speculation on Madigan's preferences? Do you agree with jj's views?
To the post:
The capital bill is built on shaky foundations.
-There has not been a thoughtful examination of the long-term (as in to pay off bonds with) revenue stream from gaming in Illinois.
-The Lottery lease economic studies have never been released outside the GOMB. As Capt. Fax so directly observed yesterday, is this the group the taxpayers want to have the only look-see on a $10 billion deal?
-The State may inadvertently be doubling down on its own deal. Potential "lessors" of the Lotto include groups (sometimes called syndicates, or clubs, but AA doesn't like those terms of "Art")
of investment banks or private equity firms. Hmmm, who invests a lot of cash with private equity firms? Right. The State pension funds!
-The $10 billion number is another cause for concern, particularly in light of the secrecy of the financial documents. Last year, the sale or lease of 100% of the Lotto was projected to net $10 billion; a year later, lease of only 80% still gets the same $10 billion. Most people would agree that the deal didn't get 25% better in a year, so what gives?
-The use of borrowed public funds to pay for capital work at wealthy Northwestern is wrong. The use of the same for private, religious-affilated colleges is a lawsuit in the making, not that it hasn't happened before, but not $300 million a pop.
-An old (Cecil Partee kinda old) Senate Dem budget analyst used to say, "community colleges are like a**h****. Everybody has one." Perhaps that's why "everybody got their $300 million, but it's hard to see that the capital needs of brand-spankin' new Heartland CC in Bloom/Normal and Lincoln Land or a few of the older less pristine campuses are the same.
-Perhaps it's a multi-year program, but at %50k apiece, the school maintenance grant is roughly 3x too much for the number of school districts in Illinois.
Call AA old-fashioned, but that's how I see it.
The federal judge can control his voluntary out of state travel, but what happens if the Clark County Sherriff shows up here and gathers him up on the outstanding warrant?
If everyone then buys about 400 more, we close the gap in the operating budget.
(I'm figuring 50 cents on each lotto dollar.)
Happy to help, now everyone can go home.
Once there's a boat with 20 table games and 500 slots why do we care if there are a thousand slots? Whether you agree or not, you see my line of thought.
It isn't the gaming opponents that kill gaming expansion, it's the gaming industry people: they get greedy, and the bill keeps growing and growing until it collapses under its own weight.
Anyway, that's my thoughts on gaming as a funding source for a capital program (or any of the state's other needs).
I've seen some partial lists like this article:
http://www.pantagraph.com/articles/2008/05/30/n...
And the Elgin OHare project:
http://www.pioneerlocal.com/riverforest/news/97...